The crypto crowd is declaring the market dead at levels not seen since mid-February. According to the Santiment update published on June 5, social dominance data shows a sharp spike in keywords like #dead, #finished, #gone, and #over appearing alongside Bitcoin, altcoins, and broader cryptocurrency discussions.

That wave of negativity marks the highest reading since the last major flush of pessimism back in February, which preceded a notable rebound. Santiment’s social dominance metric tracks the share of overall crypto chatter dominated by certain narratives, and this time, the gloom is overwhelming.

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